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Which of the following statements are correct? (i) S corporation is a business firm with 120 stockholders or less (ii) Income of a limited liability

Which of the following statements are correct?

(i) S corporation is a business firm with 120 stockholders or less

(ii) Income of a limited liability company is taxed at the business level only

(iii) Business income of a partner is taxed at the personal level only

(iv) Only realized capital gains are subject to taxation

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